EURGBP Looks To Weaken More On Loss Of Upside Momentum

EURGBP- With the cross rejecting higher prices to close lower on Monday, EURGBP looks to weaken more on loss of upside momentum. As long as the 0.7415/23 zone continues to hold as overhead resistance, the risk remains lower. Support comes in at 0.7300 level. Further down, support lies at the 0.7260 level where a violation will turn focus to the 0.7220 level. A break will expose the 0.7180 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 0.7400 level where a violation if seen will turn risk towards the 0.7440 level. On further upside, the 0.7480 level comes in as the next upside target followed by the 0.7520 level. All in all, EURGBP looks to weaken more on loss of upside momentum at the 0.7415/23 zone.

I found your daily analysis very useful. Thank you for an excellent service and great forex analysis

Andreas Stockmann
London, United Kingdom

You really do great technical analysis research. Very impressive, you know your job. Over the years, I have read so much technical analysis from many authors, and you can really tell their personal bias is affecting what they see in the charts. You do great work, very impressive.

Ludwig Roessler
Kelowna, Canada

I want to let you know that since I signed up for your subscription my trading has improved, and I now trade more confidently than before. I carefully read your daily/weekly strategies and then make decisions to initiate my trade, and I would say about 83% was successful. Thank you.